IN PHOTO: Apple CEO Tim Cook delivers his keynote address at the World Wide developers conference in San Francisco, California June 2, 2014.
Reutes/Robert Galbraith

With the Android Wear and Gear Live now taking the market in a frenzy of wearable technology, it may be a matter of time until Apple jumps the trend with its long-rumoured iWatch.

Several reports have pointed to a possible release date by the fourth quarter of the year, though Apple still keeps mum about its plans, if any.

In the meantime, Know Your Mobile has found a video of a concept design for the iWatch, which does match some of the design aspects that Apple places on its devices.

As seen in the video, it has a 2.5-inch display that is curved, wireless charging capability and the iOS 8 featured out of the box. Similar to other smartwatches, the iWatch concept also has a number of sensors, presumably for tracking health components.

Check out the concept video below and see how the iWatch concept design holds up to its future rivals.

Apps Out for Android Wear

Google Play Store is not leaving out owners of wearable technologies like the Android Wear as it introduces a handful of tech-specific apps.

According to SlashGear, there are already 25 apps that can be used for wearables, some of the new apps include The Guardian, Evernote and the companion app specifically made for the Android Wear. The last app is designed for the user to control the Android Wear with your smartphone.

Google is still pushing for developers to create more apps for the platform after the Android Wear apps collection was announced.

"Android Wear allows developers to write code that runs directly on the wearable. Nearly all the APIs Android developers are already familiar with are accessible on the wearable allowing fully customized UI, reading sensors directly, integrating with voice actions, and sharing data between the phone or tablet and the wearable," said Google over at the Google+ Android Developers.

Microsoft: Tapping into Wearable Technology with a Fitness Band

Microsoft is known for a lot of things-from smartphones and operating systems to the next-gen gaming console, Xbox One-but it seems that it also wants to tap into the health movement and wearable technology with what is known as the fitness band.

The Verge reports that Paul Thurrott, the known name in Windows and Microsoft's insider activities, has hinted that the wearable technology that will be coming out of Microsoft will not be a smartwatch like its competitors' but rather a fitness wristband.

The difference may lie in the many sensors that Microsoft plans to install in the device, most of which are centered around health tracking components including calories, heart rate, and steps.

Though a patent found by the source does make it look like one of the smartwatches in the market today, the focus on health may make it a fitting match for a fitness wristband instead. That does not mean that it won't be connected to the smartphone, as there are also reports that point to smartphone notifications and compatibility with different available OS will also be included in the device.

The release date of the alleged Microsoft fitness wristband has not been set though Thurrott claims that it may be released before the year ends.